Sep 26, 2019
September 10, Ottawa’s Finance and Economic Development Committee released their
recommendations for the 2020 draft
included a proposed a three percent increase to the property tax rate.
recommendations aim to relieve financial pressures following the cuts to
provincial funding. The tax will help support municipal services, including
police, library and public health.
yesterday’s meeting, the Council approved the guidelines for
including with the proposed tax increase. The full Budget 2020 will be reviewed
for approval in December.
If you own
property, your tax bill will be recalculated by multiplying the new tax rate
with the assessed value of your property.
residential property owners, the increase in property taxes will mean paying an
extra $109 for the average urban homeowner and $77 for the average rural
homeowner. For commercial property owners, property taxes will increase by an
average of $229.
expected that the increase property taxes will bring in $75 million next year
to maintain municipal services and invest in infrastructure. As a growing city,
property taxes are important to help maintain a good quality of living (Ottawa is ranked #19).
property owner, you must pay these taxes to your municipal government. So, it’s
important to know how much your property tax bill will increase and to adjust
your budget accordingly. Use our running costs calculator to find how this will affect your
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